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"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

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Ratios & Harmonics: a Different Way to Trade

  • #501
  • Jan 2, 2013 9:32pm Jan 2, 2013 9:32pm
Quoting ozziedave
I must be a real slow learner. On the EUR 60 min chart you show the main swing as the red line on the chart I have attached. Isn't the main swing the magenta line on the chart? Sorry to keep going back to the basics. If you have time maybe you could show a few more charts
with main swings. How do you determine which direction tom trade and how do you determine where (what swings) to pull your fibs and extensions from.

I must admit I'm a bit lost.

Also you showed a 244 tick chart on one of your post, is that roughly equal to a 1 min chart...
Hey Dave you are not slow at all just recently it became a main swing. Remember I said it had to achieve at least a 38 % correction for a main swing consideration and it just achieved that. At the time of my post the swing I used was the only one that had a high and low that had a correction of 38%. I will post some charts for you if you still need me to just let me know if you are still fuzzy on this.

The 244 tick is pretty close to the 1 M I believe Bary looked at it. He can probably comment further I believe he was testing this very thing.
If you fail to plan, you plan to fail.
  • #502
  • Jan 2, 2013 9:37pm Jan 2, 2013 9:37pm
Quoting foxybunny
Mr. Pip, thank you for starting and contributing to this thread.

On 2-Jan, E/U on M15 had a Short Entry at Point-C( retracement between 61.8% and 78.6%) .

Also it had a potential Long Entry at Point-D between 127% and 162%.

Curious is on how and where you may enter the Long at Point-D ?

And what would you do now as the Long is moving back to the entry, when may you re-take a Long if the Stop-Loss is hit?


Attachment


Attachment
Hello and welcome. Please review my post on the price action in the PRZ and my approach. If my stop is taken out then I do not re enter I re asses and wait for further confirmation (harmonics, confluence). If you still need help repost your question and ill be happy to give greater detail.
If you fail to plan, you plan to fail.
  • #503
  • Jan 2, 2013 9:45pm Jan 2, 2013 9:45pm
Quoting foxybunny
Thanks iqyu5an.

I did not jump into that Long trade.
Normally I look for Volume and time of day for confirmation, and I was not available at screen to take that Long.

Another main concern is what other hints to tell whether it is ABCD-Reversal (Long in the previous picture) or a continuation of trend ABCD-Continuation meaning it would be another new Short ??


Note: To ForexFactory Admin, what happened to "Preview Post" button before you post, or anyone else who can answer on this. This button seem to be gone with the new change of Factory's...
Foxybunny,

This pattern like all patterns do not necessarily mean a full blown reversal. The trade management rules take this into consideration as we are as aggressive as we can be with our stop management while still giving the market it's required breathing room. I see it as a correction first and other factors will determine if its a market reversal.
If you fail to plan, you plan to fail.
  • #504
  • Jan 2, 2013 9:51pm Jan 2, 2013 9:51pm
Just wanted to thank you Mr. Pip for the work you have put in to this thread. Looking forward to learning more from you
  • #505
  • Jan 2, 2013 10:14pm Jan 2, 2013 10:14pm
Mr. Pip

It just keeps getting better...look forward to learning more


On the 244 tick chart that you shared your seven trades, I was wondering did you base your harmonics/ratios just off the 244 tick chart? Or did you use a higher time frame for reference and the 244 tick to fine tune the entry? When I look at the chart, I am not clear on how you went about your decision making process for entries. Did you draw any fibs and if so from what level, and did you base decisions off support and resistance levels to act like a PRZ for getting bargain prices?

I use ninjatrader with MBtrading and when i tried to match your 244 tick chart with my 244 tick chart, it did not match. When i went to 89 tick ...it seemed to match your chart. Just wondering if you meant 89 tick with the chart you posted instead of 244 tick ?

Deep thanks,

Ed
  • #506
  • Jan 2, 2013 10:46pm Jan 2, 2013 10:46pm
Thank you so much for your insightful thread Mr Pips.
Have read your ABCD pattern and this is my take on it..
just wondering if the price breaks PRZ, does it mean that instead of a reversal, price will continue in its direction?
As in this case the price will continue to head down instead of reversing?
Attached Image (click to enlarge)
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  • #507
  • Jan 2, 2013 11:43pm Jan 2, 2013 11:43pm
Quoting ecneralc
Thank you so much for your insightful thread Mr Pips.
Have read your ABCD pattern and this is my take on it..
just wondering if the price breaks PRZ, does it mean that instead of a reversal, price will continue in its direction?
As in this case the price will continue to head down instead of reversing?
Attachment
Your ABCD pattern and PRZ are totally wrong.
Please review doc. Mr Pips attached in post 488, 1 pg back. and also pg's 11-12
Barry
  • #508
  • Jan 2, 2013 11:54pm Jan 2, 2013 11:54pm
Quoting ecneralc
Thank you so much for your insightful thread Mr Pips.
Have read your ABCD pattern and this is my take on it..
just wondering if the price breaks PRZ, does it mean that instead of a reversal, price will continue in its direction?
As in this case the price will continue to head down instead of reversing?
Attachment
Here's a better chart IMHO
This ABCD still doesn't meet Mr Pip rules. He prefers C to retrace to the 61.8 not 38
To answer your question, the hugh bearish cndl certainly indicates great strength by the bears. There was no bullish reaction at all in the PRZ. Tells me price will continue down in the short term.
Attached Image (click to enlarge)
Click to Enlarge Name: eu prz.gif Size: 20 KB
Barry
  • #509
  • Edited Jan 3, 2013 12:15am Jan 2, 2013 11:55pm | Edited Jan 3, 2013 12:15am
Quoting Bary
Your ABCD pattern and PRZ are totally wrong.
Please review doc. Mr Pips attached in post 488, 1 pg back. and also pg's 11-12
Hi Barry..I am a new to harmonics..many thanks for pointing out..
  • #510
  • Jan 3, 2013 3:14am Jan 3, 2013 3:14am
Quoting Mr. Pip
Here is an example of a recent ABCD
Just wanted to chip in and say that I really appreaciate you taking your personal time to teach us.
  • #511
  • Jan 3, 2013 4:11am Jan 3, 2013 4:11am
Price may be heading to point B and complete an ABCD in the rectangle zone
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  • #512
  • Edited 2:00pm Jan 3, 2013 5:26am | Edited 2:00pm
......Nzd/Usd H4 - waiting completion at point D for entry........
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd h4 - bullish gartley abcd.jpg Size: 135 KB
  • #513
  • Jan 3, 2013 5:39am Jan 3, 2013 5:39am
Quoting esmontjr
......Nzd/Usd H4 - waiting completion at point D for entry........
Your Nzd/Usd H4 chart looks like a possible Short at point-C, or wait till price goes lower pass the 50% mark.
Target could be point-B or point-D.

Then you may have 2 trans, one for Short at point-C, and one for Long at point-D.
  • #514
  • Edited 9:04am Jan 3, 2013 6:44am | Edited 9:04am
See if this Short works for A/U on M15 for a ABC-Short.
It has retraced to the 61.8% and 78.6% zone, and enter only pass the 50%.

Only thing is that tonight a few Red USD News, and that the bounce away from the zone was not that clean on M15.

<Edit> Follow Up Note: This Short did not work out as price went back to point-A.


Attached Image (click to enlarge)
Click to Enlarge Name: 2013-01-03_ABCD_AUDUSD_H1_1Short.png Size: 46 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 2013-01-03_ABCD_AUDUSD_M15_1Short.png Size: 42 KB
  • #515
  • Jan 3, 2013 7:01am Jan 3, 2013 7:01am
NZDUSD 240 min -Would this X to A be classed as a main swing leading into the ABCD and make it possible to have a tight stop below X instead of the just below 161.8 A to B extension? A Gartley?
Attached Image (click to enlarge)
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  • #516
  • Jan 3, 2013 7:04am Jan 3, 2013 7:04am
Quoting foxybunny
Your Nzd/Usd H4 chart looks like a possible Short at point-C, or wait till price goes lower pass the 50% mark.
Target could be point-B or point-D.

Then you may have 2 trans, one for Short at point-C, and one for Long at point-D.

This is exactly my trade plan.
Perfect looking for your next,different analysis.
  • #517
  • Jan 3, 2013 7:26am Jan 3, 2013 7:26am
Quoting ecneralc
Thank you so much for your insightful thread Mr Pips.
Have read your ABCD pattern and this is my take on it..
just wondering if the price breaks PRZ, does it mean that instead of a reversal, price will continue in its direction?
As in this case the price will continue to head down instead of reversing?
Attachment
I can see what you were trying to do as far as identifying the pattern your ratios are not entirely wrong however you are against order flow. ABCD patterns are trend continuation patterns and although can form against order flow they have a higher probability of success if we swim with the current. Nice attempt.
If you fail to plan, you plan to fail.
  • #518
  • Jan 3, 2013 8:43am Jan 3, 2013 8:43am
Ok so I think I am starting to see some of this stuff after lots of watching and reading. Mr. Pip have you gone over the profit target areas? I might have missed them reading over everything so if you can point me to the post it would be greatly appreciated. Thanks
  • #519
  • Jan 3, 2013 9:10am Jan 3, 2013 9:10am
Hello Traders,

Sorry, I've been real busy trading. I will answer your questions later on after my session and I'll try to make a video of my session today explaining my trades. This is not to push you into shorter timeframes but I want you to see how what we do is applicable to any timeframe and how there is no such thing as noise. I also want you to see how I apply what we are learning.
If you fail to plan, you plan to fail.
  • #520
  • Jan 3, 2013 9:16am Jan 3, 2013 9:16am
Quoting Mr. Pip
Hello Traders,

Sorry, I've been real busy trading. I will answer your questions later on after my session and I'll try to make a video of my session today explaining my trades. This is not to push you into shorter timeframes but I want you to see how what we do is applicable to any timeframe and how there is no such thing as noise. I also want you to see how I apply what we are learning.
Good morning Mr. Pip! Just wanted to check in and let you know I'm still following along. I read your ABCD file yesterday, now i'm trying to locate these patterns... Can't wait to see what you bring later on today. Since I'm very new to this, so far I've been out on the 1 hr time frame, for no other reason than I would like to see these patterns coming from a mile away with plenty of time to identify them. Do you think this is good, or should I jump right in to the lower tf's?
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